According to IMARC Group latest report titled “Li-Fi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on Li-Fi market overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global Li-Fi market reached a value of US$ 283 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 4,231 Million by 2027, exhibiting a CAGR of 51.26% during 2022-2027.
Light fidelity (Li-Fi) is wireless optical communication technology that utilizes visible light communication (VLC), including ultraviolet (UV), visible light spectrum, or infrared spectrum, to transmit high-speed data. Additionally, it uses light to transmit information in a similar way to Wi-Fi using visible light. It is a visible light communication (VLC) system that uses common household LED light bulbs to enable data transmission, in which the LED bulbs are connected to a controller that modulates the light intensity at high speeds. As a result, it helps in high-speed and bidirectional communication transmitted through a wireless channel in a closed, controlled environment, such as an airplane, office, vehicle, hospital, or shopping complex. It is gaining widespread traction as it offers secure and high-speed connections among multiple devices.
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Market Trends:
The penetration of the internet of things (IoT) majorly drives the global market. This can be supported by the growing need for businesses and consumers to connect a variety of devices to the internet. Along with this, the growing demand for high-speed networks to stream video or audio is significantly supporting the market. In addition, the widespread adoption of Li-Fi in cars for enabling high-speed internet access and hands-free communication that aids in improving safety and improve driver experience is acting as another growth-inducing factor. Furthermore, continuous development in Li-Fi networking techniques, including mobility support, interference mitigation, and multiuser access, is creating a positive market outlook. Some of the other factors driving the market include the increasing need for improved energy management and the growing initiatives towards smart city development.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Li-Fi Market Segmentation:
Our report has categorized the market based on region, component, application, transmission type and end-user.
Breakup by Component:
Breakup by Application:
Breakup by Transmission Type:
Breakup by End-User:
Breakup by Region:
Key highlights of the report:
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